The new macroeconomics is about distributions and flows, rather than points and intersections. Market frictions imply that the search for trading partners is time consuming and costly. Consequently, market participants flow between economic states, and trades occur at dispersed prices. This generates motives for continued search for better market opportunities, and for bargaining between potential trading partners. This volume takes the empirical...
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Over the past two decades the new classical macroeconomics has become the single most coherent school of macroeconomic thought. Always controversial, it has nonetheless captured centre-stage, and has...
Naar goedkoopste shop Vergelijk meer shopsThe book investigates issues of policy design in open economies. The performance of simple alternative policy rules is analysed in the context of theoretical models using both analytical solutions and...
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